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Asserting that India is a rising and responsible global power, US President Barack Obama today said he firmly believes the relationship between the two counties will be a defining partnership in the 21st century.

"The United States values our partnership not because of where India is on a map but because of what we share and where we can go together. India is indispensable to the future that we seek, a future of security and prosperity for all nations," Obama said in his address to the reception hosted by Secretary of State Hillary Clinton, in honour of the External Affairs Minister, S M Krishna.

"That's why a third of my Cabinet has already visited India. That is why officials from across my administration are a part of this strategic dialogue. That's why I want to thank you for the progress that we've made together since Prime Minister (Manmohan) Singh's visit," the US President said before a select audience at the Foggy Bottom headquarters of the State Department.

"Michelle and I were honoured to welcome Prime Minister Singh and Mrs Kaur to the White House for the very first official state visit of my presidency" he added.

"It was a State visit that demonstrated that our relations with India are at the highest of priorities for my administration and for me personally, as president of the United States," he said recollecting the visit of the Prime Minister in November.

"I said then that India is a leader in Asia and around the world. It's a rising power and a responsible global power. That's why I firmly believe that the relationship between the United States and India will be a defining partnership in the 21st century," he said.

"The new National Security Strategy that I released last week makes this absolutely clear. A fundamental pillar of America's comprehensive engagement with the world involves deepening our cooperation with 21st century centres of influence, and that includes India," Obama said.

"Moreover, the relationship between the US and India is fundamentally unique because, as our strategy explains, we share common interests but we also share common values, as the world's two largest democracies and as countries that are rich in diversity, with deep and close connections among our people," the US President said, who made a rare appearance at a State Department reception hosted for a visiting foreign minister.

Obama said the two countries are deepening their economic cooperation on finance and investment and the trade that creates jobs in both of nations.

"I look forward to working with Prime Minister Singh and our fellow G-20 partners this month in Toronto as we work to foster economic growth that is both balanced and sustained," he said.

"With our agreement on fuel reprocessing, we're moving ahead with our civil nuclear agreement. We're expanding our green partnership to promote green buildings, energy efficiency and the sustainable development that creates jobs and reduces poverty. As we strive to implement our Copenhagen commitments, we'll be working together to ensure a successful climate conference in Mexico later this year," he said.

Obama said India and the US are cooperating more closely than ever before against transnational threats.

"This includes making progress for the Afghan people, and preventing terrorism, whether it's in Manhattan or in Mumbai," he said.

"It includes securing vulnerable nuclear materials, a goal we advanced at our Nuclear Security Summit, where I thanked Prime Minister Singh for committing India to building a new Centre of Excellence for nuclear energy and security. Our efforts include a stronger global non-proliferation regime where all nations live up to their obligations," he said.

US and India are broadening partnerships between their people, especially in science, technology and global health.

"More students are taking advantage of our expanded Fulbright-Nehru programme. We're working to expand ties between our universities and community colleges. We're partnering on agriculture and research to reduce global hunger, and to share India's incredible progress with other countries," he said.

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